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Gold - Jan 5, 2021 - Reliance Securities

Posted On: 2021-01-05 09:58:06 (Time Zone: Arizona, USA)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International gold prices are trading flat this Tuesday morning and early afternoon trade in Asia as investors await the results of a runoff election in the U.S state of Georgia that could indicate the likelihood of further U.S. stimulus measures.

Downside was capped this Tuesday supported by safe haven appeal amid the rising number of global COVID-19 cases and the ensuing lockdowns and a weaker dollar.

Markets will also look ahead to the release of the minutes from the U.S. Federal Reserve of the December policy meeting.

Apart from the elections, the U.S. will release the ISM Manufacturing PMI data which could have an impact on the Greenback.

Domestic gold prices are trading flat to marginally lower this Tuesday morning and early afternoon trade.

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Source: Equity Bulls

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